Social Security's big problem

For the first time the number of people drawing social security has exceeded nine million (9,008,348), which is 54.78% of the number of workers contributing to Spain's national retirement system (16,442,681). Demographic tensions will increase stress on the system in years ahead. The crisis will affect the purchasing power of retirees, who have had their pensions frozen since 2011.

Still, the system continues to increase its spending on pensions (4.6% in 2013) while revenues fall and the EU warns that Social Security played a major role in Spain not meeting its deficit goal in 2012. If this big problem is not fixed soon, the system's reserve fund will dry up and the solution will be nowhere in sight.